A group of Peloton Interactive Inc. co-founders, including former Chief Executive Officer John Foley, have started a new business to sell custom rugs over the internet.
(Bloomberg) — A group of Peloton Interactive Inc. co-founders, including former Chief Executive Officer John Foley, have started a new business to sell custom rugs over the internet.
Peloton’s former chief legal officer, Hisao Kushi, and ex-Chief Technology Officer Yony Feng have joined Foley to launch Ernesta, which will let people buy custom designed and cut rugs at roughly the same price as a standard store-bought product, with fast delivery. The company just completed a $25 million Series A funding round, it said in a statement Monday.
Foley stepped down as CEO of Peloton in February, and relinquished his executive chairman role in September. The former pandemic darling is trying to pull out of a slump that has sent the shares down about 75% this year.
Foley will serve as New York-based Ernesta’s CEO, with Kushi and Feng reprising their roles as CLO and CTO respectively. They’re joined by a number of other Peloton alums.
Ernesta will be available to US customers in the spring of 2023.
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